Amerco Stock Forecast
Weaker technical forecast for Amerco as stock downgraded to Sell Candidate.
(Updated on Apr 19, 2024)
The Amerco stock price gained 0.317% on the last trading day (Friday, 19th Apr 2024), rising from $63.00 to $63.20. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.89% from a day low at $62.75 to a day high of $63.94. The price has risen in 6 of the last 10 days but is still down by -4.59% for this period. Volume fell on the last day by -36 thousand shares and in total, 59 thousand shares were bought and sold for approximately $3.71 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Amerco stock with a 90% probability to be traded between $60.13 and $66.74 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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UHAL Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.20%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Amerco stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $63.39 and $65.71. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A sell signal from a double top formation was found on Tuesday, April 09, 2024 with a target of $63.65. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Amerco stock
Amerco finds support from accumulated volume at $63.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.19 between high and low, or 1.89%. For the last week, the stock has had daily average volatility of 2.02%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UHAL) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Amerco to open at $63.30, and during the day (based on 14 day Average True Range), to move between $61.72 and $64.68, which gives a possible trading interval of +/-$1.48 (+/-2.35%) up or down from last closing price. If Amerco takes out the full calculated possible swing range there will be an estimated 4.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $63.00 (0.32%) than the resistance at $63.77 (0.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Amerco stock A Buy?
Amerco holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.373 Sell Candidate Downgraded
Predicted Opening Price for Amerco of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $63.30 ( 0.150%) | $63.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UHAL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.48 | 2.03 % | |
| R2 | 64.03 | 1.31 % | ||
| R1 | 63.75 | 0.87 % | ||
| Current price: | 63.20 | |||
| Support | S1 | 62.84 | -0.566 % | |
| S2 | 62.56 | -1.01 % | ||
| S3 | 62.11 | -1.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 66.75 | 5.62 % | |
| R2 | 65.11 | 3.02 % | ||
| R1 | 63.77 | 0.90 % | ||
| Current price | 63.20 | |||
| Support | S1 | 63.00 | -0.316% | |
| S2 | 62.88 | -0.506% | ||
| S3 | 62.19 | -1.60% |
UHAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 19, 2022 | Sep 02, 2022 | Sep 20, 2022 | $0.0500 | 0.0948% |
| 2 | Apr 08, 2022 | Apr 14, 2022 | Apr 29, 2022 | $0.0500 | 0.0934% |
| 3 | Oct 08, 2021 | Oct 15, 2021 | Oct 29, 2021 | $0.0500 | 0.0678% |
| 4 | Aug 20, 2021 | Sep 03, 2021 | Sep 21, 2021 | $0.0500 | 0.0769% |
| 5 | Jun 10, 2021 | Jun 23, 2021 | Jul 08, 2021 | $0.0500 | 0.0880% |
FAQ
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